Log In/Sign Up
Your email has been sent.
1024 Cedar Ave 11 Unit Apartment Building $3,171,539 CAD ($288,322 CAD/Unit) 6% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- ±21% Rental Upside - Prime Value Add Opportunity
- Diverse Mix of (8) 1BD/1BA, (1) 2BD/1.5BA & (2) 3BD/2BA
- Six Garages Provide Extra Income Potential and/or ADU Opportunity (Buyer to Verify)
- Separate Meters for Gas & Electricity
- Close Proximity to Amenities & Employment Hubs - 92 Walk Score / 80 Bike Score
EXECUTIVE SUMMARY
1024 Cedar Avenue is an 11-unit multifamily investment opportunity located in Downtown Long Beach. With in-place rents approximately 21% below current market levels, the property presents a compelling value-add opportunity and strong potential for rental income growth.
The unit mix features (8) 1BD/1BA units, (1) 2BD/1.5BA unit, and (2) 3BD/2BA units, appealing to a wide range of renters and support long-term occupancy. Separate gas and electric meters provide an opportunity for utility passthrough, while onsite laundry facilities generate additional ancillary income. Six garages yield current income, but may also offer ADU potential. (Buyer to verify)
Situated in the walkable and transit-friendly location, the property boasts a 92 Walk Score and 80 Bike Score, offering residents easy access to neighborhood retail, dining, and daily convenience, as well as employment opportunities. The nearest Metro Station is just 0.3 miles away, providing
a direct connection to major employment hubs throughout the region.
The unit mix features (8) 1BD/1BA units, (1) 2BD/1.5BA unit, and (2) 3BD/2BA units, appealing to a wide range of renters and support long-term occupancy. Separate gas and electric meters provide an opportunity for utility passthrough, while onsite laundry facilities generate additional ancillary income. Six garages yield current income, but may also offer ADU potential. (Buyer to verify)
Situated in the walkable and transit-friendly location, the property boasts a 92 Walk Score and 80 Bike Score, offering residents easy access to neighborhood retail, dining, and daily convenience, as well as employment opportunities. The nearest Metro Station is just 0.3 miles away, providing
a direct connection to major employment hubs throughout the region.
PROPERTY FACTS
| Price | $3,171,539 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $288,322 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6% | Building Size | 12,272 SF |
| Gross Rent Multiplier | 10.42 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 0.49/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBPD10 | ||
| Price | $3,171,539 CAD |
| Price Per Unit | $288,322 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 10.42 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 12,272 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBPD10 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 2 | - | 1,150 |
| 2+1.5 | 1 | - | 928 |
| 1+1 | 8 | - | 700 |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 7272-005-025 | Improvements Assessment | $610,448 CAD |
| Land Assessment | $120,184 CAD | Total Assessment | $730,632 CAD |
PROPERTY TAXES
Parcel Number
7272-005-025
Land Assessment
$120,184 CAD
Improvements Assessment
$610,448 CAD
Total Assessment
$730,632 CAD
1 of 15
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1024 Cedar Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.